Greystone Closes $24.3 Million HUD/FHA-Insured Refinance for 86-Unit Minnesota Seniors Housing Community

Greystone has closed a $24,287,700 HUD/FHA-insured refinance loan for an 86-unit seniors housing community in Minnesota, the firm announced July 7, 2026. The transaction was structured under the U.S. Department of Housing and Urban Development's Section 232/223(f) program, which provides long-term, fixed-rate, non-recourse permanent financing for stabilized seniors housing and healthcare properties.

The community offers a continuum of care that includes independent living, assisted living, and memory care. The specific street address, city, year of construction, and current occupancy were not disclosed. The transaction represents a refinance of existing debt rather than acquisition or new development financing.

Transaction Structure and Program Details

The HUD Section 232/223(f) program is designed for the long-term recapitalization of stabilized seniors housing and healthcare assets. Loans originated under the program are fully amortizing and carry fixed interest rates, with non-recourse liability structures.

Greystone served as the HUD/FHA lender on the transaction. The identity of the borrower was not disclosed in the announcement.

"HUD financing continues to be one of the most effective capital solutions for owners of high-quality seniors housing communities seeking long-term stability," according to quoted material included in the announcement. A second quote from the firm noted: "We are pleased to help our client secure financing that positions the community for continued success while providing the certainty and flexibility" that long-term HUD debt affords.

About the HUD 232/223(f) Program

HUD's Section 232/223(f) program insures mortgage loans for the purchase or refinancing of existing residential care facilities, including assisted living, memory care, and independent living communities. To qualify, properties must generally be stabilized, with demonstrated occupancy and operating history sufficient to support HUD's debt service coverage requirements. The program's non-recourse, fixed-rate, fully amortizing structure distinguishes it from most conventional commercial real estate lending products.

Sources: GlobeNewswire — Greystone Provides $24.3 Million in HUD/FHA-Insured Financing for Minnesota Seniors Housing Community (July 7, 2026)